Industry
The Co-operators has introduced a new insurance solution that provides appropriate coverage, policy enhancements and extras to properly insure valuable homes, including their contents, customizations and special features. Recognizing the unique insurance needs of higher-value homes in Canada, Prestige Plus is available for single-family homes valued at $750,000 or more through all Co-operators financial advisors […]
By Canadian Underwriter | March 26, 2014
1 min read
Intact Insurance has launched a new national television and online campaign geared to consumers, promoting its 30 Minute Claims Service Guarantee. The campaign, which includes television commercials and online ads, is meant to respond to Canadians’ desire for responsive customer service from their insurer, Intact said Wednesday. The insurer points to a survey by Angus […]
Aligned Insurance Inc., a commercial broker based in downtown Toronto, officially launched operations in Ontario March 25. Led by president and chief executive officer Andrew Clark, Aligned is currently targeting small, medium and large organizations in and around the Greater Toronto Area. The new independent firm is attempting to differentiate itself with a 0% commission […]
By Canadian Underwriter | March 25, 2014
Ironshore Energy Property will increase capacity to $25 million for energy risks throughout its global platform. The move is in response to a rapidly expanding energy sector and the company’s increased commitment to the sector through the recent formation of its Energy Practice Group, Nigel Jobson, head of global energy property for Ironshore, said in […]
CHICAGO – An eight-car Chicago commuter train plowed across a platform and scaled an escalator at the underground station of one of the nation’s busiest airports early Monday, injuring 32 people on board, officials said. No one suffered life-threatening injuries in the Blue Line derailment at O’Hare International Airport, Chicago Fire Commissioner Jose Santiago said […]
By Canadian Underwriter | March 24, 2014
3 min read
Limited opportunities for profitable growth combined with a challenging regulatory environment were key considerations in Economical Insurance’s decision to stop writing insurance in Newfoundland and Labrador, the company has announced. In a statement Friday, Waterloo, Ont.-based Economical announced that its decision to stop writing insurance in the province as of Oct. 1, 2014 follows a […]
2 min read
Household insurance fraud is typically committed by those between 31 and 50 years old, and they’re most likely to make claims for accidental damage, notes a new report by VFM Services. The typical fraudster is also a first-time claimant and their claim is often for under $900 for accidental damage to a computer, TV or […]
By Canadian Underwriter | March 21, 2014
Property and casualty insurers have increased their use of predictive modeling across nearly every line of business over the past year, suggests a new survey from Towers Watson. Despite that, most of those businesses still lack a comprehensive, company-wide approach for using predictive modeling for all “core functions,” the global professional services firm said. Overall, […]
Most insurers and reinsurance companies are publishing more about their risk management targets than they were five years ago, and more are using metric-based frameworks to manage capital, according to a new report from Guy Carpenter. In its latest Enterprise Risk Management Benchmark Review report, the firm analyzed at the risk management practices and policies […]
By Canadian Underwriter | March 20, 2014
Fifteen per cent of executives responding to a recent survey do not know whether their company’s insurance will “sufficiently indemnify” them against losses resulting from computer security incidents, while fewer than two thirds have a formal incident response plan. Network security vendor Arbor Networks Inc. of Burlington, Mass. released Tuesday the results of a survey […]
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